New Ballard CEO sees fuel cell industry turnaround

The fuel cell business is heading for a long-awaited turnaround, says John Sheridan, the new chief executive of Ballard Power Systems (TSX:BLD – news) Inc.

The company, which confirmed Sheridan as CEO after a fourth-month interim term, reported Wednesday narrower losses in the fourth quarter despite falling revenue and pledged to meet specific technological and financial targets in the coming year.

“I do see an opportunity on the horizon for a potential turning point for the fuel cell sector, and I really believe that Ballard came make a significant contribution to making that happen – if we deliver,” Sheridan said Thursday in a conference call with analysts.

yahoo